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No leave of court is required to create charge except that 25% of amount to be kept in separate no-lien account

June 23, 2020[2020] 117 taxmann.com 216 (Delhi)
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COMPANY LAW: Where in suit instituted by plaintiffs seeking a decree in favour of plaintiff No.1 and 2, Court had clarified that to create a charge, etc. no leave of Court was required except that 25% of amount generated was required to be kept in a separate no lien account, in view of fact that defendant Nos.1 and 3 had already freely transferred money to group company and individual accounts of defendants, seeking mandatory injunction directing plaintiffs not to obstruct defendant No.4 company in undertaking business, raising finances and recommencing project could not be granted

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